Unless the client limits events to a certain follows graph.
I would want to see replies by - in this order:
* my follows
* your follows
* my follows follows
* all the rest
and it doesn't need to be a configuration thing. It could quite literally be replies sorted by this heuristic.
I would want each user to be marked according to the group he's in and wouldn't mind having to click a button to see the "all the rest".